Akron Launches Residential Property Tax Abatement Program

Mayor Horrigan announces that property owners can now apply for 15-year abatement on qualifying renovations or new home construction

City of Akron Press Release
From the desk of Ellen Lander Nischt
Published: 07-05-2017

Akron, Ohio, July 5, 2017— Mayor Dan Horrigan is proud to announce that the State of Ohio has approved the City of Akron’s residential tax abatement program, and applications for tax abatement are now available for property owners who have completed qualifying renovations or new home construction. Tax abatement allows Akron homeowners and neighborhoods to enjoy the benefits of new home investment without immediately paying a higher tax bill.

"Recent studies show that many Akron neighborhoods are poised for growth," Mayor Horrigan said. "This program is a powerful tool our community can use to jumpstart population growth and reward Akron homeowners who invest in their homes and improve our neighborhoods."

Mayor Horrigan introduced the residential property tax abatement program to Akron City Council, designating the entire City of Akron as a "Community Reinvestment Area." Akron City Council authorized the program in April 2017, through Ordinance No. 122-2017, available here.

As required, the City submitted its program to the State of Ohio for approval. The Ohio Department of Development issued its confirmation on June 12, 2017, allowing the City to move forward with the program.

The benefits of the program are available to all Akron property owners, in every neighborhood across the City. Property owners who completed significant home renovations or new home construction in Akron, after April 24, 2017, can now apply for property tax abatement.

Akron’s residential property tax abatement program exempts 100% of the added property value on any new home construction or new home renovation (valued at approx. $5,000 or more), for a period of 15 years.

Basic information about the benefits of tax abatement is available here.

Detailed information and applications for residential property tax abatement are available here.